The largest and probably the most prominent natural gas and oil pipeline company Kinder Morgan Energy Partners LP (KMP.N) stated last Wednesday that the company’s overall third-quarter profit this year jumped significantly from statistics recorded the previous year.
Kinder Morgan is considered today to be the biggest midstream and also third biggest energy company in North America. The company owns an interest in operating approximately a total of 80,000 miles of industrial pipelines and also 180 terminals. The company’s pipelines transport refined petroleum products, natural gas, carbon dioxide (CO2), crude oil, and more. They also handle or store different products and materials in their terminals like gasoline, ethanol, jet fuel, coal, steel, and petroleum coke.
The said higher profits were majorly because of its recent product pipeline and also terminals. Overall profit this quarter from a master limited partnership (MLP) which was based in Houston amounted to a total of $976 M compared to the statistics of the same quarter of last year which was recorded at $697 M.
The total amount of cash or funds available that is for paying unit holders, or even distributable cash flows before particular items, increased a total of 10% comparing from the previous year that was recorded at $607 M.
Kinder Morgan Energy Partners also stated that the company was able to raise its overall quarterly cash distribution for every unit at 4 % amounting to $1.40 for every share.
Kinder Morgan also stated last August that the company will place all of their publicly traded units in one roof with a $44 B deal. This is in response to increasing concerns of investors about overall growth prospects and also overall performance. And because of this recent deal, Kinder Morgan Energy Partners will eventually shed and significantly affect their overall MLP structure in the long run.